Kohl's Corp is a retail company that operates a department store chain offering a wide range of products, including clothing, footwear, accessories, beauty products, and home goods
The company focuses on providing value to its customers through regular promotions and discounts, while also emphasizing an enjoyable shopping experience both in-store and online. Kohl's aims to cater to a diverse demographic by curating a variety of national brands alongside exclusive private labels, positioning itself as a destination for family-oriented shopping needs. Additionally, the company adapts to evolving consumer trends and focuses on sustainability initiatives to enhance its brand appeal.
As we await the opening of the US market on Tuesday, let's delve into the pre-market session and discover the top gainers and losers shaping the early market sentiment.
Kohl's CEO joined other major retailers in painting a grim picture of the state of the American consumer. In fact, Kohl's said that it expects sales to decline by 5% to 7% in fiscal 2025, due in part to "constrained" shoppers.
The SPDR S&P Retail ETF (NYSEXRT) is trading lower Tuesday as retail and apparel stocks fall following weak consumer spending data and poor earnings reports.
Shares of department store chain Kohl’s (NYSEKSS)
fell 26.7% in the afternoon session after the company reported weak fourth-quarter results: EPS missed by a meaningful amount, and full-year EPS guidance fell significantly below expectations. The key takeaway from the quarter was a steep 9.4% decline in net sales, as comparable sales dropped 6.7%, reflecting weaker consumer demand.
Kohl's shares are dropping after the company reported a 9.4% decline in Q4 sales to $5.175 billion. Despite a slight increase in gross margin, operating income fell, and the dividend was cut to $0.125 per share.
Department store chain Kohl’s (NYSEKSS) met Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 9.4% year on year to $5.40 billion. Its GAAP profit of $0.43 per share was 43.9% below analysts’ consensus estimates.
